Crude oil holds under $80 per barrel in Asia, Europe and New York
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Crude oil holds under $80 per barrel in Asia, Europe and New York
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Crude oil prices tipped lower Friday morning, dropping under $80 per barrel as equity markets continued to sputter in Asia, Europe and New York.
Equity markets dropped 1.3 percent in Hong Kong, 2 percent in Japan and 3.5 percent in Taiwan as an unraveling sell-off went to a third day.
Crude oil prices, pressured by debt issues in Europe and a recent report of slower manufacturing in China, are also caught up in the escalating talks of a second global recession.
On the New York Mercantile Exchange, November delivery West Texas Intermediate crude oil dropped to an overnight low of $77.55 per barrel before rebounding to $79.96 in late afternoon trading.
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